Why Lori Loughlin and Mossimo Giannulli Are Selling Their Multimillion-Dollar Home (Exclusive)
Lori Loughlin and Mossimo Giannulli might be selling their $28 million mansion, but that doesn't mean they're strapped for cash amid their ongoing college admissions scandal court case.
A source tells ET of the decision, "Everyone seems shocked Lori and Mossimo would put their house up for sale in the midst of their legal troubles, but they've wanted to sell their home for a long time."
Originally, the couple put off the decision to sell the Los Angeles home due to all they have going on.
"They have been through so much in the last year, and selling hasn't been their priority," the source continues. "At this point, the case is taking much longer than they originally thought, so they decided to put it on the market again. It is one step they are taking in an attempt to get back to their normal lives."
The source adds that the decision to sell has nothing to do with the couple's financial situation amid the ongoing court case.
"They aren't selling their home because they are cash strapped," the source says. "They are doing very well financially.”
On Thursday, ET learned that the couple selling their home had nothing to do with the college scandal. Real estate is Giannulli's passion, he loves architecture and design, and selling the family home is not unusual for them -- they typically sell their home and move every three-to-five years. They listed the Spanish-style home previously in the last few years for $35 million but eventually took it off the market. The current listing is being handled by luxury real estate agent Arvin Haddad of The Agency.
Loughlin and Giannulli are accused of paying $500,000 in bribes to get their daughters, Bella and Olivia, admitted to USC as recruits for the crew team, even though neither of them has ever participated in the sport. The couple has pleaded not guilty to all of the charges against them.
"The girls are doing their own thing. They are growing up and want to start fresh," the source notes. "The family is closer than they've ever been. Olivia and Bella have always been so different, but after having faced this scandal together, they have realized how much they need each other.”
For more on the case, watch the clip below:
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